07-13-2013, 01:55 AM
An interesting and positive recent development that has seemingly gone unnoticed was the inclusion of a new slide (#15), which details the impending deal between InterOil and Exxon for the development of PRL 15, in Oil Search's most recent presentation delivered at the UBS Resources Conference last month. The slide was inserted in the segment of the presentation detailing the prospects for expanding PNG LNG's capacity, and interestingly it is in front of Oil Search's Gulf of Papua slides. The slide provides additional external evidence that the SPA is about to be concluded and that the PNG LNG partners have been informed and accepted that InterOil's gas will be used to supply at least one of the PNG LNG Project's trains.